Dow, S&P 500 Close With Small Losses

The Dow Jones Industrial Average and S&P 500 are closing with small losses Wednesday after failing to hold onto early gains, the AP reports. Stocks rose earlier after comments from Treasury Secretary Steven Mnuchin raised hopes for a US-China trade deal. But losses in what are considered the market's safer sectors, such as consumer products and utilities, offset a strong performance by technology stocks. General Mills fell 4.5% after reporting weak sales trends in North America. Chip stocks jumped after Micron Technology forecast improved demand for smartphone chips the rest of the year. Micron rose 13.3% and Nvidia gained 5.1%. The S&P 500 slipped 3 points or 0.1% to 2,913. The Dow slid 11 points to 26,536. The Nasdaq, with a heavy component of technology stocks, gained 25 points, or 0.3%, to 7,909. (More stock market stories.)